Sirius XM (SIRI) to report earnings tomorrow: here is what to expect

Satellite radio and media company Sirius XM (NASDAQ:SIRI) will be reporting results this Thursday before market open. Here’s what you need to know.

Sirius XM beat analysts’ revenue expectations last quarter, reporting revenues of $2.16 billion, up 1% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates.

Is Sirius XM a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Sirius XM’s revenue to be flat year on year, in line with its flat revenue from the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Sirius XM has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Sirius XM’s peers in the consumer discretionary – wireless, cable and satellite segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AT&T delivered year-on-year revenue growth of 5.3%, beating analysts’ expectations by 2.1%, and Comcast reported flat revenue, in line with consensus estimates. AT&T traded down 2.9% following the results while Comcast was up 2.8%.

Read our full analysis of AT&T’s results here and Comcast’s results here.

Investors in the consumer discretionary – wireless, cable and satellite segment have had steady hands going into earnings, with share prices flat over the last month. Sirius XM is up 6.9% during the same time and is heading into earnings with an average analyst price target of $33.23 (compared to the current share price of $27.73).

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